In recent developments, Strategy executed a buyback of 1,420,467 shares of STRC preferred stock, valued at $139.3 million, as observed in the week leading up to September 13. This action follows a prior expenditure of $176.3 million in the preceding week, reflecting the firm’s sustained commitment to its stock repurchase strategy. Concurrently, the company’s Bitcoin reserve remains unchanged at 845,050 BTC, emphasizing a steady stance on digital asset holdings. Overall, these moves highlight the firm’s strategic posture in both traditional and digital investment markets.
The board doubled the authorization behind the digital credit securities repurchase program to $2 billion, and about $1.05 billion remains available under that program. In the week to September 13, Strategy repurchased 1,420,467 shares of STRC preferred stock for $139.3 million, following $176.3 million of repurchases in the prior week. The company reported that no repurchases of STRF, STRK, STRD, or MSTR common stock occurred during the period.
All cash used for the repurchases came from USD Cash, and USD Cash stood at $1.30 billion as of September 13, down from $1.44 billion a week earlier. The company also noted that roughly $1 billion of authorization for repurchasing MSTR common stock remains untouched. The report lists these authorization and funding figures for the reported period.
Strategy’s Bitcoin holdings total 845,050 BTC, acquired for $63.73 billion at an average price of $75,412 per coin, inclusive of fees. The company reported no Bitcoin purchases or sales during the reporting period, leaving the reported BTC position unchanged for the period covered. The acquisition cost figure and average price are stated inclusive of fees alongside the position and the trading activity for the reporting period.
The aggregate Bitcoin reserve is reported at $66.2 billion and is accompanied by a blended breakeven annualized return of 2.48%. The duration associated with the aggregate Bitcoin reserve is stated as 40.3 years in the report. These reserve valuation metrics, the breakeven return and the duration are presented together as the key financial parameters for the company’s BTC holdings in the reporting period.
Strategy’s Bitcoin Credit spread is reported at approximately 57 basis points under the assumptions of a 10% annualized Bitcoin return, 40% volatility and Bitcoin priced near $77,266. One basis point is defined as 0.01%, so 57 basis points is equivalent to 0.57%. The reporting framework applies a risk threshold of 150 basis points (1.5%) to designate a security as investment-grade, and the reported 57-basis-point spread is below that threshold. The assumptions, the numerical spread and the threshold are presented together as the parameters used for the credit-spread assessment in the reporting period.
The MSCI proposal may lead to the exclusion of non-operating companies, such as Strategy, from global equity benchmarks. This information has been referenced in a recent 8-K filing with the Securities and Exchange Commission (SEC). The proposal aims to reassess the composition of benchmarks to ensure they include operationally active entities, potentially impacting the market presence and valuation of companies like Strategy by removing them from certain investment portfolios that track such indices.
Strategy completed additional repurchases of its STRC preferred securities during the reporting period while leaving broader share-repurchase authorizations and certain common-stock authorizations in place. The company’s Bitcoin reserve remained intact for the period, with reserve valuation metrics and credit-spread parameters reported alongside liquidity figures and remaining repurchase program capacity. Taken together, the disclosures provide a concise snapshot of capital allocation choices and the firm’s static digital-asset posture during the reported interval.
